v3.26.1
Revenue from Contracts with Customers (Tables)
6 Months Ended
Jun. 30, 2026
Revenue from Contracts with Customers  
Schedule of disaggregation of revenue See details in the following tables (dollars in thousands):

Three Months Ended June 30,

Six Months Ended June 30,

Revenue by Service Provided

  ​ ​

2026

  ​ ​

2025

  ​ ​

2026

  ​ ​

2025

Mechanical Segment

$

2,296,667

  ​ ​

70.3

%

$

1,638,672

  ​ ​

75.4

%

$

4,357,289

  ​ ​

71.1

%

$

3,040,887

  ​ ​

75.9

%

Electrical Segment

968,989

29.7

%

534,647

24.6

%

1,773,699

28.9

%

963,718

24.1

%

Total

$

3,265,656

100.0

%

$

2,173,319

100.0

%

$

6,130,988

100.0

%

$

4,004,605

100.0

%

Three Months Ended June 30,

Six Months Ended June 30,

Revenue by Type of Customer

2026

2025

 

2026

2025

 

Technology

$

1,917,354

58.7

%

$

934,199

43.0

%

$

3,533,869

57.6

%

$

1,611,752

40.2

%

Manufacturing

535,357

16.4

%

473,040

21.8

%

1,071,799

17.5

%

925,826

23.1

%

Healthcare

230,783

7.1

%

200,341

9.2

%

451,317

7.4

%

382,883

9.6

%

Education

168,252

5.1

%

194,845

8.9

%

301,669

4.9

%

356,087

8.9

%

Government

145,507

4.4

%

107,753

5.0

%

275,820

4.5

%

204,034

5.1

%

Office Buildings

92,468

2.8

%

110,461

5.1

%

172,808

2.8

%

232,987

5.9

%

Retail, Restaurants, and Entertainment

89,893

2.8

%

85,107

3.9

%

171,179

2.8

%

162,116

4.0

%

Multi-Family and Residential

44,678

1.4

%

33,214

1.5

%

79,713

1.3

%

61,567

1.5

%

Other

41,364

1.3

%

34,359

1.6

%

72,814

1.2

%

67,353

1.7

%

Total

$

3,265,656

100.0

%

$

2,173,319

100.0

%

$

6,130,988

100.0

%

$

4,004,605

100.0

%

Three Months Ended June 30,

Six Months Ended June 30,

Revenue by Activity Type

2026

2025

 

2026

2025

 

New Construction

$

2,454,064

75.1

%

$

1,256,866

57.9

%

$

4,587,558

74.8

%

$

2,321,950

58.0

%

Existing Building Construction

483,469

14.8

%

607,236

27.9

%

920,070

15.0

%

1,099,839

27.5

%

Service Projects

144,742

4.4

%

146,271

6.7

%

282,830

4.6

%

265,485

6.6

%

Service Calls, Maintenance, and Monitoring

183,381

5.7

%

162,946

7.5

%

340,530

5.6

%

317,331

7.9

%

Total

$

3,265,656

100.0

%

$

2,173,319

100.0

%

$

6,130,988

100.0

%

$

4,004,605

100.0

%

Schedule of contract assets and liabilities

Contract assets and liabilities in the Consolidated Balance Sheets consisted of the following amounts as of June 30, 2026 and December 31, 2025 (in thousands):

June 30, 2026

December 31, 2025

Contract assets:

Costs and estimated earnings in excess of billings, less allowance for credit losses

$

144,553

$

88,817

Contract liabilities:

Billings in excess of costs and estimated earnings and deferred revenue

$

3,231,104

$

2,120,262